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Dow Jones Futures: What To Do After Today’s Stock Market Promote-Off Before Key Inflation Report


Dow Jones futures had been little modified after Monday’s inventory market sell-off. A key inflation report — the buyer worth index — is due out Tuesday morning forward of the market open.




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Stock Market Today

On Monday, the Dow Jones Industrial Average bought off 1.2% and the S&P 500 moved down 1.7%. The tech-heavy Nasdaq composite tumbled 2.2%. Among alternate traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) declined 2.4%, and the SPDR S&P 500 ETF (SPY) misplaced 1.7% Monday.

Electric-vehicle chief Tesla (TSLA) skidded almost 5% Monday. Twitter (TWTR) reversed from losses to finish 1.7% larger after Tesla Chief Executive Elon Musk determined in opposition to being an organization director.

U.S. Stock Market Today Overview

Index Symbol Price Gain/Loss % Change
Dow Jones (0DJIA) 34309.07 -412.05 -1.19
S&P 500 (0S&P5) 4412.83 -75.45 -1.68
Nasdaq (0NDQC ) 13411.96 -299.04 -2.18
Russell 2000 (IWM) 196.54 -1.33 -0.67
IBD 50 (FFTY) 35.89 -0.71 -1.94
Last Update: 4:30 PM ET 4/11/2022

Chip shares had been among the many day’s weakest performers. Nvidia (NVDA) tumbled 5.2% on an analyst downgrade. Advanced Micro Devices (AMD) slid 3.6% to hit its lowest stage since July 2021.

As the inventory market’s uptrend continues to battle, Dow Jones monetary chief American Express (AXP) — together with Alphabet (GOOGL), Broadcom (AVGO), IBD Leaderboard watchlist inventory Edwards Lifesciences (EW), Raytheon Technologies (RTX) and Shell (SHEL) — are amongst Tuesday’s high shares to purchase and watch.

Elsewhere among the many Dow Jones leaders, Apple (AAPL) declined 2.55% and Microsoft (MSFT) traded down 3.9% in immediately’s inventory market.

Microsoft and Tesla are IBD Leaderboard shares. Edwards Lifesciences and Raytheon Technologies had been featured on this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today: Treasury Yields, Oil Prices, CPI

After Monday’s shut, Dow Jones futures, S&P 500 futures and Nasdaq 100 futures had been little modified vs. honest worth. Remember that in a single day motion in Dow futures and elsewhere would not essentially translate into precise buying and selling within the subsequent common inventory market session.

The 10-year U.S. Treasury yield prolonged a win streak to seven periods Monday, rising to 2.78%, its highest stage since Jan. 2019. U.S. oil costs slumped greater than 3% Monday, as West Texas Intermediate crude traded beneath $95 a barrel. Also, China’s worsening virus outbreak is elevating considerations about potential demand.

Consumer costs in March are projected to have risen 1.1% for a year-over-year price of 8.4% — per Econoday estimates — which might be the quickest improve since Dec. 1981. The shopper worth index measures the speed of inflation. Meanwhile, the White House mentioned that it expects the “March CPI headline inflation (number) to be extraordinarily elevated due to Putin’s price hike.”

The Labor Department will launch the CPI at 8:30 a.m. ET.

Stock Market Rally Struggles: What To Do Now

On Monday, the inventory market put in one other disappointing efficiency with the key inventory indexes ending with sharp losses. The Nasdaq stumbled additional beneath its 50-day line, which had been a key help stage to observe.

Even although the underlying uptrend remains to be intact, it is time to proceed with a better diploma of warning. Be cautious of most new purchases and focus solely on shares which have distinctive fundamentals and heavy-volume breakouts previous right purchase factors. Also, be versatile. The market could rebound and transfer again into “confirmed uptrend,” or the heavy promoting may persist and result in a correction.

Monday’s The Big Picture column commented, “The S&P 500 tumbled 1.7% and closed slightly below the 50-day moving average. The index now tries to find support at that level. But if the Nasdaq is any indication, the composite melted right through its 50-day line Monday after a tentative hold on it the previous two sessions.”

If you are new to IBD, think about having a look at its inventory buying and selling system and CAN SLIM fundamentals. Recognizing chart patterns is one key to the funding tips. IBD presents a broad vary of development inventory lists, resembling Leaderboard and SwingTrader.

Investors can also create watchlists, discover firms nearing a purchase level, or develop customized screens at IBD MarketSmith.


Four Dow Jones Stocks To Watch Now


Dow Jones Stocks To Buy And Watch: American Express

Dow Jones monetary inventory American Express is tracing a cup with deal with with a 194.45 purchase level. Shares dropped 3.3% Monday, ending about 9% away from the newest entry.

Keep an eye fixed on the inventory’s relative power line. Amid its current descent, the RS line is beginning to fade farther from its outdated highs, which means it has its work lower out for it forward of a possible breakout. The RS line measures a inventory’s worth efficiency vs. the S&P 500. The RS line ought to hit a brand new excessive on the breakout day or shortly thereafter to substantiate the power of a inventory’s breakout.


Four Top Growth Stocks To Watch In The Current Stock Market Rally


Stocks To Buy And Watch: Alphabet, Broadcom, Edwards, Raytheon, Shell

Recent IBD 50 Stocks To Watch choose, Alphabet, exhibits a 2,875.97 purchase level in a cup with deal with, in accordance with IBD MarketSmith chart evaluation. GOOGL shares are about 10% away from the entry after Monday’s 3.35% slide.

Broadcom fell one other 1.1% Monday, because the chip inventory moved additional beneath an early entry at 614.74. Shares are closing in on the 7%-8% loss set off. The inventory additionally gave up help at it 50-day line in current periods. Meanwhile, shares have put in one other purchase level, a deal with entry at 645.41.

IBD Leaderboard watchlist inventory Edwards Lifesciences continues to advance up the fitting facet of a cup base that exhibits a 131.83 purchase level. Shares slid virtually 2% Monday. Monday’s weak spot is probably going the beginning of a deal with that may decrease the risk-optimal entry to 125.21.

Defense contractor Raytheon Technologies is inside hanging distance of a flat base’s 104.44 purchase level. Shares rallied 1.7% Monday, buying and selling simply 2% off the newest entry.

Oil-and-gas producer Shell, the April 1 IBD Stock Of The Day, is slightly below a flat base’s 56.23 purchase level after Monday’s 1.4% fall.


Join IBD specialists as they analyze main shares within the present inventory market rally on IBD Live


Tesla Stock

Tesla inventory skidded 4.8% Monday, including to Friday’s 3% decline. Shares of the EV large completed Monday about 15% away from a cup-with-handle’s 1,152.97 purchase level.

The inventory traded as excessive as 1,243.49 on Nov. 4. and ended Monday about 22% away from that all-time excessive.

Dow Jones Leaders: Apple, Microsoft

Among Dow Jones shares, Apple shares moved down 2.55% Monday, additional beneath a 176.75 purchase level in a double-bottom base. The inventory is near triggering the 7%-8% loss-cutting promote rule. Along with that double-bottom entry, a deal with purchase level can be in play at 179.71. On the draw back, AAPL inventory gave up its 50-day help stage Monday, indicating additional weak spot is probably going.

Software chief Microsoft tumbled 3.9% Monday, as shares fall additional beneath their 50-and 200-day traces. The inventory is sort of 20% off its 52-week excessive.

Be certain to comply with Scott Lehtonen on Twitter at @IBD_SLehtonen for extra on development shares and the Dow Jones Industrial Average.

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